How Big Is the Cruise Industry?

The cruise industry expects to carry 30 million travelers in 2018. In many ways, that has caused a sort of arms race between the biggest cruise operators, wherein they need to keep building bigger and more impressive boats. So far, that has worked, but it's possible that eventually the industry will create too much capacity, which could hurt pricing power for Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL), the two biggest players in the space.

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